Colonial Trust Co SC Purchases 295 Shares of General Motors (NYSE:GM)

Colonial Trust Co SC grew its position in General Motors (NYSE:GM) (TSE:GMM.U) by 35.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,130 shares of the auto manufacturer’s stock after purchasing an additional 295 shares during the period. Colonial Trust Co SC’s holdings in General Motors were worth $60,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GM. Blue Trust Inc. boosted its position in General Motors by 19.7% during the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock worth $488,000 after acquiring an additional 1,510 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in General Motors in the fourth quarter valued at $25,404,000. SYM FINANCIAL Corp acquired a new stake in General Motors in the 4th quarter valued at $474,000. Asset Management One Co. Ltd. lifted its position in General Motors by 9.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock worth $25,178,000 after buying an additional 39,474 shares in the last quarter. Finally, Avantra Family Wealth Inc. acquired a new position in shares of General Motors during the 4th quarter worth about $1,044,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered General Motors from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a report on Monday, April 14th. Mizuho cut their price objective on General Motors from $55.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. The Goldman Sachs Group dropped their price target on shares of General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Citigroup initiated coverage on shares of General Motors in a research report on Wednesday, April 23rd. They issued a “buy” rating and a $62.00 price objective for the company. Finally, TD Cowen began coverage on shares of General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $54.28.

General Motors Trading Up 0.3 %

GM stock opened at $47.51 on Friday. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The company’s 50-day simple moving average is $46.63 and its 200 day simple moving average is $50.10. The company has a market capitalization of $45.68 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping the consensus estimate of $2.63 by $0.15. The company had revenue of $44.02 billion for the quarter, compared to analysts’ expectations of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $2.62 earnings per share. As a group, sell-side analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.15 per share. This is a positive change from General Motors’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, June 6th. General Motors’s dividend payout ratio is 8.65%.

General Motors announced that its board has authorized a stock buyback program on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

General Motors Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.